ONTC PRs hit
MIAMI, July 26, 2011 /PRNewswire/ -- Onteco Corporation (OTC.QB: "ONTC"), (the "Company", or "Onteco"), announced today that its subsidiary, NexPhase Lighting, Inc. ("NexPhase"), is working with a global commercial property owner on energy efficiency lighting reviews for their property portfolio.
Dror Svorai, CEO of Onteco, stated, "NexPhase has been asked to perform and to provide energy efficient lighting retrofit solutions for a global commercial property owner. NexPhase was selected for its superior product offerings that meet all required safety and performance standards. In addition our engineering and design excellence allows us to perform these activities in a timely and efficient manner. We have already started the process and to date have provided several substantive proposals for selected facilities. We will continue this process over the next several periods and fully expect that we will have contracts to announce in the coming quarter. The economics of our solutions are very compelling and the ROI (Return on Investment) for these projects are often less than two years. We expect that the total value of contracts yielded from this relationship will be in excess of several million dollars."
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